Transfer Of Wealth

You can never stop the nutters speculating.

Banks asking for liens on property in exchange for loans that the chancellor touted as life savers.

Ring a bell from 2008 when the sharks were quizzed about where 'all the money went'.

Just takes time for the penny to drop with the great unwashed.

Jacob Rees-Mogg's investment firm set to make fortune from the coronavirus crisis

Somerset Capital Management, which the MP co-founded, says market volatility offers a “once or twice in a generation” opportunity to make “super normal returns”

Tory toff Jacob Rees-Mogg’s firm stands to make a fortune out of the turmoil caused by the coronavirus crisis.

The MP owns at least 15 per cent of a company investing in businesses hit by falling share values.

Somerset Capital Management says investors have a “once in a generation” chance of “super normal returns”.

Mr Rees-Mogg stood down as a director of SCM to become Leader of the House of Commons. SCM said it was focusing on clients’ long-term security.

It came as the UK death toll rose by a record 708 – including a boy aged five.

As millions face financial misery, SCM managers are buying into businesses where valuations have tumbled – but should bounce back. Potential gains of 500 per cent are touted.

https://www.mirror.co.uk/news/politics/jacob-rees-moggs-investment-firm-21814351

Indeed. It's not what you buy but when you buy. Even a turd has intrinsic value at some point eg Northern Rock and Bradford & Bingley.

For sure a lot of small and medium sized firms will fold.

Why would someone take a loan out to 'save' their business when they do no know when this will end? The banks taking no risk as they want people to put assets up. I thought the whole point of the government scheme was to underwrite the scheme.

The Chancellor has also hinted he will go after the self-employed after this further going after smes.

Then u have the super rich asking for bailouts.

This whole thing is likely to result in more big business and the super rich getting richer whilst everyone else pays more taxes, loses their homes and so on as well as having to put up with more rules and tracking by government.

The Chancellor has set out a package of temporary, timely and targeted measures to support public services, people and businesses through this period of disruption caused by COVID-19.

This includes a package of measures to support businesses including:

a Coronavirus Job Retention Scheme
deferring VAT and Self-Assessment payments
a Self-employment Income Support Scheme
a Statutory Sick Pay relief package for small and medium sized businesses (SMEs)
a 12-month business rates holiday for all retail, hospitality, leisure and nursery businesses in England
small business grant funding of £10,000 for all business in receipt of small business rate relief or rural rate relief
grant funding of £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000
the Coronavirus Business Interruption Loan Scheme offering loans of up to £5 million for SMEs through the British Business Bank
a new lending facility from the Bank of England to help support liquidity among larger firms, helping them bridge coronavirus disruption to their cash flows through loans
the HMRC Time To Pay Scheme

There's nothing wrong with investing into stock markets, in fact, to coin a phrase I've been ramping mine up.

Remember the Banking Crisis: The banks after having bail-out by government turned the screw on small businesses offering assistance at punitive rates. Then categorising them as insolvent (just because they were lacking cashflow) ruining many independent well-run family concerns which only recently were compensated eg by Lloyds (Hbos), etc.

Banks are like bookies eg they would lend you money when you least need it, and vice versa; bleed you dry if given the chance. The only difference is there's a banking ombudsman with teeth unlike the Gambling Commission (pocket of bookies).

There's a much bigger story underlying the banking crisis, essentially they couldn't be allowed to fail. It's a travesty that some of that funding went to pay off bonuses.

and isnt that were the chancellor came from,a big investment bank

So he's well qualified to do the job.

I'm going to get mine this time, only way to fight these capitalist swine..

Haven't mellowed with age but have learned the lessons.

Notwithstanding it paled into insignificance when compared to the Americans. Where was Bernanke holed-up prior to being head honcho of FRB?

Bank of America   AIG

Were they front runners on subprime mortgages? Mr Bernanke was part of the demise of banks eg Lehman and others.

yep him and Paulson, merril lynch etc, what a scam cfds etc

No, jawb, No income, No collateral

No problem, sign here sir.........

a few decent films around about that crisis, The Big Short,Margin Call and Too Big To Fail being three of them

"Jacob Rees-Mogg's investment firm set to make fortune from the coronavirus crisis"
And? grow up. You can make a profit too, or a loss.
Betfair is a betting market modled on the exact market his company may or may not make a profit on.

I give a **** if someone dies from this, I'm pretty angry if some socialist parasites try to make ground out of it.

Go on lefties, you think you can make a profit, posting on a ****ing company forum whose entire premise is market movements, do it. Or shut up.

As they say"your health in your wealth" and transfer is not helping

We are chucking 100s of millions on the national debt in a bizarre period where toilet roll is a commodity, some idiots want us to model ourselves on bankrupt socalist states like Venzeuala (loved by Corbyn) where getting toilet roll or anything normal is a thing to worry about YEAR AFTER YEAR.

when house prices go down again which they sure will then some new ready cash landlords will be coming in on the scene before any inflation sets in , no doubt then cash in when prices rise  ad interest rates go up a bit  ...and then return to stocks

even gold hasn't moved much ...people getting their assets in cash

Checkers oil did for Venezuela, you know that

as making gain from the virus

thats the TORY FILTH FOR YOU

The bizarre thing about lefties is they have about one brain cell to share amongst themself, and somehow think it make them superior..

yOU THINK ITS OK FOR BIG BANKS TO GIVE MORTGAGES and credit to people with no visible income or collateral as in BoA merril Citi bank ETC
float the market with those parcells
then turn to the tax payer when it belly's

checkers if you could count to 2 that would help

Anyone who looks at what should be worlds most wealthy country, with the biggest oil reserves known, that is a train wreck for on reason: it's run by socalist scumbags, and then blames "Tories" ... well there you go. I'll live in freedom, thank you mam, and the Socialist Workers can **** off to North Korea.

Sorry was that directed at me, has Joe IQ 90 got a nickname for me. Bless.

what freedoms? they are being taken away.  Keep up

did i need to add a Q for you, ah!

the chinese will be in big style mopping up

even more of africa and the middle east in hoc to them along with the usa and even us

who else is going to hold the bonds too?

From what ive heard,this is a fantastic time to invest into shares,they let it sink,now huge amounts have been pumped in--lets see if that info is correct,very good today though.

Certainly an opportunity for the young (mostly safe from virus) to take out the competition, the elderly,  spread the virus and pick up the pieces afterwards.

wouldnt be in too much of a rush to get into shares yet,just looks like they are taking into account the end of the virus and not the economics,the stock market is up today but the news going across the screen on sky doesnt justify it

Could be a small bounce today because the Tax free ISA contribution limits are reset today.

dead **** bounce

pu55y  .......


brave anyone investing in shares right now

FTSE 5537. Wouldn't blame anyone not getting involved but remember the old saying "follow the money".

terry ,only the very rich know where the money is going

they're probably sitting around  deciding that one right now

you can guess the poorest in society will be the ones paying off any 'debts'

That very true Coach so follow them in

where though Terry lol  ?


probably they will decide to invest in property ,who knows ...

today its probally gone up because trump said the virus is levelling off in usa,he is starting to use the virus like he did the china trade deal

Huge amounts of money invested into world markets is the news im told,take it or leave it chaps but will be interesting to see how it pans.

The ftse 100 is heavily weighted with businesses with a global outlook. We've seen large fluctuations recently based on the oil price crash, and banks cancelling dividends (arms twisted), the fx rate also has a big impact.

In today's news, L&G climbs 16% as it's paying divi still, and the index #2 stock clawed back a bit after last week's large decline.

ftse 250 is generally considered a better barometer for assessing the domestic outlook.

Cider,you know far more than I do about it all,but im just going with the old saying about follow the money,it seems to work somehow don't know why

I doubt we've seen the end of market pain, but with interest rates at near zero everywhere there'll be money coming into equities for the foreseeable.

Cider,  what do you think will happen to interest rates in the next year  ?

I should imagine house prices will see declines and no risk of the economy overheating to undesired levels I don't anticipate much movement in central bank interest rates. What we should see is some industries recovering faster than others. It's a long way back for tourism and travel, perhaps it will never quite be the same again.

ahh OK Cider , thanks for the input ,house falls wouldn't be such a bad thing

Negative equity is the kicker. In theory people should be better off than the GFC, what happens for people who can't recover their incomes and mortgage holidays end. Lots of amateur landlords and the incentive to be one is much lower than in used to be.

peckerdunne
Checkers oil did for Venezuela, you know that

This link shows Owen Jones getting educated on Venezuella.
Watch it pecker and you might learn something.

https://www.youtube.com/watch?v=VTWrpMQJX04

the market will start to climb once the chinese get back in to buying chunks of the west plus africa

Yes Aka

FIGHTING CRIME and the CAUSES OF CRIME

Whats that got to do with oil did for Venezuela?

Negative equity is the kicker.

-----------------

Not good for recnt buyers i certainly  agree  but i always see it as a paper loss ....i had NE when i started out in the early years ... better than  high interest rates imo  ... i always think the houses will recover long  term  for those in NE ...the  trick is to keep on top of it all .

The trick is not to sell

It's the defaults. The market is already propped up artificially by htb. The banks will sell repos for what they can get, plus they will look for higher ltv in a falling market. As above we can expect travel to the property hotspot London to be depressed for a long time, and maybe foreign money looking to get out.

yes that is certainly true Cider about the defaults ...   very uncertain times ahead

not sure anybody knows what is going to happen,everything seems to be priced on the virus numbers, which depending on how long the lockdowns are here for the state of the economy is almost impossible to gauge,considering every time you put bloomberg on all you see is stimulus here  and stimulus there the economy's of most country's could be terrifying when this is over

There will be a lot of stimulating of the the debt. The bubble can not afford to be burst. Asset prices might Ashley go up at some point but right now who knows. The Uk and London is still a safe environment for anybody who is President for life and their families. Make no mistake about that!

Nobody knows what going to happen, they can have a good guess. It's boring but investing in markets is long term, and the vast evidence over history suggests at times of depression they will bounce back. It's the discipline of regularly putting money in, re-investing income (and not panic withdrawing) that's far more important than anything else.

mining could be good - chinese will be in there even more after this

Accepted criteria post a big market correction after an act of nature eg invest in companies that are:-

1) Solvent, with positive cash flow
2) Defensive stocks eg utilities, etc.
3) Big fallers of the above
4) Cash investment (not credit/options/derivatives) - these could be manipulated.

cant pick a winner at cheltenham but a world leader in investment strategies

5704-Follow the money

Money talks
Bullshit walks

My Ocado shares cost me 2.43
All the founders started at Goldman Sachs
And paid sweet f a for their shares

Ocado? Which City "investor" short it at £2 mark? Fingers burnt big time; £13 per share now.

No idea?
Seen them at 69p once

Ocado was not making money a bit like Amazon in the early days (before the takeover of Whole foods) until their mega tie-up with Kroger in America; hedge funds like GMT Capitals, Kairos, Marshall Wace, Parvus, Hunt Lane and a few others got their fingers very burnt apparently shorting 7% of the then equity.

Even the ailing M&S paid £3/4bn for a bit of action with Ocado.

The technology side is the future of the company, shopping side not really profitable

one of my stock has doubled in 10 days.............

2 more up 30%

pity i aint opened the live account just yet

I will tell you one thing I have done. I used to keep up to £5k all the time in my main exchange accounts. Luckily I had only a tenner in Matchbook when they went bust. Since then, I have withdrawn almost the lot and now keep about £200 in each account. They say they won't go bust but why take a chance?

how the rich get richer - money in the world economy  DW Documentary youtube

A fraction of companies applying for the Bank loans are, or will be 'eligible'

Picked up for pennies when they collapse.

This will be more of an economic disaster than we're prepared for.